This article discusses impairment loss for cash generating unit including goodwill and provides a solution to question 2 in Corporate Accounting & Reporting Assignment. It explains the factors that need to be assessed to judge whether the assets mentioned in the balance sheet needs impairment or not. The article also highlights the relevant disclosures that should be included in the financial statements. The subject is Corporate Accounting & Reporting Assignment, and the course code, course name, and university are not mentioned.

FV less Cost of Disposal Extra allocation of Account Loss allocation of to be decreased by: Account Carrying Amount Allocation of loss New Carrying Amount Plant 436, 000 Equipment 100, 000 Fittings 63, 000 Inventory 27, 000 Goodwill 22, 000 Total CA 648, 000 Impairment : Step 1 Allocation with maximum decrease of Account New Carrying Amount Step 2 Allocation of extra amount for Account: New Carrying Amount

Discover impairment loss for cash generating unit with goodwill and solution to question 2 in Corporate Accounting & Reporting Assignment. Assess factors for asset impairment.

Impairment Loss for CGU including Goodwill and Solution to Question 2

Corporate Accounting & Reporting Assignment

This article discusses the reversal of impairment of goodwill and journal entries to record impairment loss. It covers the calculation of impairment loss, allocation of impairment loss to assets, and journal entries to record the same. The article also explains the need for annual impairment testing for goodwill and intangible assets with imprecise estimated useful life. It cites relevant standards and research studies to support the discussion.

Reversal of Impairment of Goodwill and Journal Entries to Record Impairment Loss

This assignment explores the concept of impairment loss for Cash Generating Units (CGUs) excluding goodwill, as defined by Australian Accounting Standard 136. It explains key terms like carrying amount, recoverable amount, and value in use. The assignment outlines a step-by-step process to calculate impairment loss for CGUs, considering factors such as cash flows, discount rates, and net selling price.  Furthermore, it discusses scenarios where goodwill allocation is not feasible and how impairment loss is subsequently allocated to assets.

Impairment Loss for CGU's

This assignment content discusses the concepts of impairment of assets as per IAS 36, including the concepts of cash generating units (CGUs) and the factors to be considered for evaluating assets for impairment. The content also covers the disclosures required in financial statements when an impairment loss is recognized or reversed.

Finance

Data Science and Big Data

Corporate Accounting & Reporting: Impairment of CGU

Report

Accounting Research Methods

Negros Oriental State University

Corporate Accounting & Reporting : Assignment

The assignment content is about the impairment loss allocated to different assets within a cash-generating unit (CGU). The CGU has land, equipment, and building as its main assets, with a total carrying amount of $256,000. An impairment loss of $20,000 was recognized, with $7,265 already assigned to land. The remaining $12,735 needs to be allocated across the other assets. After apportionment, the final allocation is Goodwill: $10,000, Land: $7,265, Equipment: $7,823, and Building: $4,912. Journal entries were made to record the impairment losses. The conclusion highlights the importance of transparency in disclosure, emphasizing the need for supporting facts and figures, as well as justifying the selection of the cash-generating unit.

Corporate Accounting & Reporting Assignment

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Reversal of Impairment of Goodwill and Journal Entries to Record Impairment Loss

Impairment Loss for CGU's

Corporate Accounting & Reporting: Impairment of CGU

Corporate Accounting & Reporting : Assignment

Impairment Loss Allocation

Corporate Accounting - Assignment

Corporate Accounting & Reporting Assignment

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Reversal of Impairment of Goodwill and Journal Entries to Record Impairment Losslg...

Impairment Loss for CGU'slg...

Corporate Accounting & Reporting: Impairment of CGUlg...

Corporate Accounting & Reporting : Assignmentlg...

Impairment Loss Allocationlg...

Corporate Accounting - Assignmentlg...

Reversal of Impairment of Goodwill and Journal Entries to Record Impairment Loss

Impairment Loss for CGU's

Corporate Accounting & Reporting: Impairment of CGU

Corporate Accounting & Reporting : Assignment

Impairment Loss Allocation

Corporate Accounting - Assignment